@robeverydayfinance: 💸🚗 Keeping my high interest debt is the smart decision for me when it comes to my 7.99% car loan, and here’s why… The goal in paying the car off early was to free up the $470 car payment on my monthly budget and put it to better use I did some rough calculations and it would take 8 months to pay off the car using my Roth contributions, at a cost of $1875 to my emergency fund to ensure I still maxed out for 2026 I’d pay the car off in May 2027, meaning I’d be able to start contributing to my 2027 Roth IRA in June. This would mean the contributions would average to $1071/mo In total, it would take 16 months to max the 2026 & 2027 Roth IRA instead of the 18 months it would just take to pay off the car. In turn, I’d save $250 in interest, but still have to make up the $1875 from my emergency fund. All in all, it makes more sense to just keep going at what I’m doing and pay the car off on schedule.  Follow me @robeverydayfinance for more personal finance you weren’t taught growing up! #PersonalFinance #personalfinancetips #financialliteracy #rothira #debt

Rob | Everyday Finance

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Saturday 12 September 2026 18:14:11 GMT

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Kate Hudson :

I wish I knew about this sooner, what apps would you recommend to help

2026-09-13 02:01:37

Dmemes :

I dont trust Roth IRAs because they make the mistake of trusting that our stalks and government will forever make positive money. That is impossible for anything. Meaning when the decline happens we WILL lose all that money.

2026-09-13 05:43:09

Billy Bob :

a car loan is amortized so you don't just look at the initial interest great you look at what the finance charges each month. if you're paying off your car next year the finance charge is going to be minimal

2026-09-12 21:01:52

Benjamin :

I’m grateful for my old job, it taught me discipline. But reinvesting in my dropshipping business helped me create income I once thought was out of reach

2026-09-15 00:00:35

Melissa Sol :

Great work! I truly appreciate the extra effort you put in this week @Steve Jay ✨

2026-09-13 15:48:01

Melissa Sol :

he teaches with clarity and purpose. Respect to Mr Steve 👏 @Steve Jay ✨

2026-09-13 15:47:32

Andrew Pelle || finance 📈 :

I think more people need to understand what financial independence actually means, and @Steve Jay ✨ does a great job bringing attention to the subject. Definitely worth checking out if FIRE is something you’ve been researching.

2026-09-16 10:16:49

To see more videos from user @robeverydayfinance, please go to the Tikwm homepage.

Rob | Everyday Finance

Open In TikTok:

Region: US

Saturday 12 September 2026 18:14:11 GMT

Music

Download

Comments

Kate Hudson :

I wish I knew about this sooner, what apps would you recommend to help

Dmemes :

I dont trust Roth IRAs because they make the mistake of trusting that our stalks and government will forever make positive money. That is impossible for anything. Meaning when the decline happens we WILL lose all that money.

Billy Bob :

a car loan is amortized so you don't just look at the initial interest great you look at what the finance charges each month. if you're paying off your car next year the finance charge is going to be minimal

Benjamin :

I’m grateful for my old job, it taught me discipline. But reinvesting in my dropshipping business helped me create income I once thought was out of reach

Melissa Sol :

Great work! I truly appreciate the extra effort you put in this week @Steve Jay ✨

Melissa Sol :

he teaches with clarity and purpose. Respect to Mr Steve 👏 @Steve Jay ✨

Andrew Pelle || finance 📈 :

I think more people need to understand what financial independence actually means, and @Steve Jay ✨ does a great job bringing attention to the subject. Definitely worth checking out if FIRE is something you’ve been researching.

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